Life insurance industry representatives meet to list their woes The woes of the U.S. insurance industry are likely to get the notice of consumers, even those that are not so keenly attuned to the world of insurance news. This may be particularly true in the realm of life insurance. The life insurance industry has been facing troubling times in the U.S. and representatives from some of the largest companies in the country met in Washington for the American Council of Life Insurers conference to list their woes. These troubles are…
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Illinois legislators revamp the state’s unemployment insurance program to help pay off debt
The Illinois Legislature has passed a new legislation that could save the state millions on unemployment insurance. The legislation is expected to net taxpayers’ savings of approximately $240 million and the state another $1.6 billion in federal taxes. The new legislation will allow the state’s Department of Employment Security to pay off some of the debt the state incurred from borrowing money from the Federal Unemployment Account in early 2008 in an effort to keep unemployment benefits afloat. The new plan will reward businesses that have avoided layoffs with an…
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